Replies to post #6641 on Asberry 22 Holdings Inc (ASHI)

[bernardsamuel]

I don't know if it's still true but a few decades ago you had to wait 30 days after selling a stock before buying it back again for you to be able to claim the tax loss realized from the earlier of the two transactions. It was called "the wash sales provision," if I'm remembering correctly. So everyone who sold by the end of November was beginning to buy back by the end of December.

So it wasn't psychology at work here as much as tax planning. Again, I don't know if the underlying tax premise is still true (not that I haven't been so smart not to have losses but rather I've stayed out of the market for a very long time, so I didn't need to keep current on tax provisions).

...joining you in wishing the whole gang here a great 2017!